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September 2009 – Life Insurance Awareness Month – A Time to Get Prepared


If you happened to die tomorrow, how would your family take care of themselves financially? It is not a pleasant thought to think of, but not thinking about it can cause detrimental consequences. September is Life Insurance Awareness Month. Now is the time to make sure your family is protected from the worst case scenario.

All Americans should have life insurance. If you take care of someone financially, you definitely need a life insurance policy. Around 70 million American adults do not have any life insurance at all and most of the Americans that do carry a life insurance policy do not have enough coverage.

life insurance helps to provide your family with money after your demise. This is also referred to as a death benefit; it can assist your loved ones in paying for the funeral, final expenses, credit card payments, and car payments. It can also give your family an income to help them out financially for a certain amount of time.

If a person requires life insurance it will depend on their own personal situation and financial goals. When trying to determine if you need life insurance, keep the following things at the front of your mind.

• If you are married with children: Having children is the plainest reason anyone can have to have a life insurance policy. If you and your paycheck were to be gone, how would your spouse support your children? Life insurance helps to replace the lost paycheck so that your family can continue to be provided for.

• If you are a single parent: If you are an only parent, it is vital that you provide life insurance to help take care of your children in the unfortunate incident that you would die. Making sure that you have adequate insurance and name someone to take care of your children in the event of your passing.

• If you are a stay at home mom: Just because you don’t provide the paycheck in the family does not mean that you don’t help to financially support them. In the event that you would die, they would have to find someone to take care of your children while your husband worked, which would cost money. There would also be the everyday things that you normally took care of such as the cooking, cleaning, running kids around, and so forth.

• If you are approaching retirement age: The children may be out of the house and the house paid for, but that doesn’t mean that your savings and social security benefits will cover all of your final costs. Insurance would be vital to helping to provide your spouse with the means to continue paying the bills.

• You own a small business: Life insurance can help cover your business in a lot of way in the event that you or a business partner would die. A buy-sell agreement paid with life insurance makes it possible for the remaining business owner to buy the interest in the company of the deceased partner at a set upon price.

Life Insurance Awareness Month is the best time for reviewing your life insurance. Everyone should take a couple of minutes out of their hectic schedules to make sure that their loved ones will be taken care of and protected should something happen to you.


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